Easterly Investment Partners LLC Lowers Stock Holdings in Amgen Inc. $AMGN

Key Points

• Easterly Investment Partners LLC has reduced its holdings in Amgen Inc. by 5.9%, owning 51,511 shares worth approximately $14.38 million as of the end of the second quarter.
• Recent analyst ratings for Amgen show a mixed outlook, with seven Buy ratings and eleven Hold ratings, while Bank of America has set a new price target of $272.00.
• Amgen's stock recently traded down 0.5% and has a current price of $295.81, with a strong market capitalization of $159.25 billion.

Easterly Investment Partners LLC trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 5.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,511 shares of the medical research company's stock after selling 3,205 shares during the quarter. Amgen accounts for approximately 1.0% of Easterly Investment Partners LLC's investment portfolio, making the stock its 23rd biggest position. Easterly Investment Partners LLC's holdings in Amgen were worth $14,382,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in AMGN. Brighton Jones LLC boosted its stake in shares of Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock valued at $7,159,000 after buying an additional 5,226 shares during the period. GAMMA Investing LLC boosted its stake in shares of Amgen by 40.2% in the 1st quarter. GAMMA Investing LLC now owns 11,753 shares of the medical research company's stock valued at $3,662,000 after buying an additional 3,369 shares during the period. Inscription Capital LLC purchased a new position in shares of Amgen in the 1st quarter valued at about $348,000. Kingswood Wealth Advisors LLC boosted its stake in shares of Amgen by 2.3% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 3,524 shares of the medical research company's stock valued at $1,096,000 after buying an additional 79 shares during the period. Finally, Steel Grove Capital Advisors LLC purchased a new position in shares of Amgen in the 1st quarter valued at about $219,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on AMGN shares. Bank of America lifted their price objective on Amgen from $261.00 to $272.00 and gave the company an "underperform" rating in a research note on Friday, September 26th. Piper Sandler boosted their target price on Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a research note on Monday, August 25th. William Blair restated an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Citigroup boosted their target price on Amgen from $310.00 to $315.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 24th. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $305.00 target price on shares of Amgen in a research note on Tuesday, June 24th. Seven research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $305.50.

Amgen Trading Down 0.5%

AMGN opened at $295.81 on Friday. The firm has a market cap of $159.25 billion, a price-to-earnings ratio of 24.19, a price-to-earnings-growth ratio of 2.63 and a beta of 0.49. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $335.88. The business's 50 day moving average is $286.93 and its two-hundred day moving average is $287.33. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping the consensus estimate of $5.28 by $0.74. The company had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The firm's revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, research analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were issued a $2.38 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.2%. Amgen's payout ratio is presently 77.84%.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the transaction, the senior vice president owned 7,209 shares of the company's stock, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.76% of the company's stock.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.

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